Vietnam, RoK expand garment cooperation
Vietnam ’s garment industry plays an
important role in the Vietnam- RoK economic cooperation and there are
many opportunities for its products in the RoK market.
Vietnam ’s garment industry plays an
important role in the Vietnam- RoK economic cooperation and there are
many opportunities for its products in the RoK market.
Speaking at the Vietnam-RoK Garment Forum held in Hanoi on September 8, Vice Chairman of the RoK Federation of Textile Industries (RFTI) Myeng Keun, who is also the head of a visiting delegation of RoK garment businesses, highly praised trade cooperation between the two countries in recent years, especially in the garment sector.
In 2008, the RoK was the second largest investor in Vietnam ’s garment sector with 737 million USD, after Taiwan . The country ranked sixth among importers of Vietnamese garment with last year’s import turnover reaching 139 million USD.
In the first six months of the year, despite the strong impact of the global economic crisis, the RoK imported 77 million USD worth of Vietnamese garment and textile products, up 43 percent over the same period last year.
Among 1,500 RoK businesses in Vietnam , 441 operate in the garment sector with big names such as Pangrim, Hansae Vietnam , Han-soll Vietnam and Vina-Korea, helping raise production capacity and diversify products for the Vietnamese garment industry.
“At present, Vietnam and the RoK see a lot of opportunities to strengthen garment cooperation as they are named among the top ten largest garment exporters in the world,” said Lee Seung Ryul, an official from the RoK Ministry of Knowledge Economy.
Deputy Minister of Trade and Industry Bui Xuan Khu also spoke highly of the cooperation between the RFTI and the Vietnam Textile and Apparel Association (VITAS) and affirmed that his ministry is ready to support the cooperation.
He expressed his wish that RFTI and RoK businesses will continue investing in clothing production and fashion design in Vietnam as well as strengthening cooperation with the Southeast Asian country to export its products to other markets.
At the forum, VITAS and RFTI representatives signed a memorandum of understanding focusing on boosting trade and investment in the sector, removing trade barriers, strengthening cooperation in the framework of the World Trade Organisation and supporting RoK businesses to do business in Vietnam and vice versa./.
Speaking at the Vietnam-RoK Garment Forum held in Hanoi on September 8, Vice Chairman of the RoK Federation of Textile Industries (RFTI) Myeng Keun, who is also the head of a visiting delegation of RoK garment businesses, highly praised trade cooperation between the two countries in recent years, especially in the garment sector.
In 2008, the RoK was the second largest investor in Vietnam ’s garment sector with 737 million USD, after Taiwan . The country ranked sixth among importers of Vietnamese garment with last year’s import turnover reaching 139 million USD.
In the first six months of the year, despite the strong impact of the global economic crisis, the RoK imported 77 million USD worth of Vietnamese garment and textile products, up 43 percent over the same period last year.
Among 1,500 RoK businesses in Vietnam , 441 operate in the garment sector with big names such as Pangrim, Hansae Vietnam , Han-soll Vietnam and Vina-Korea, helping raise production capacity and diversify products for the Vietnamese garment industry.
“At present, Vietnam and the RoK see a lot of opportunities to strengthen garment cooperation as they are named among the top ten largest garment exporters in the world,” said Lee Seung Ryul, an official from the RoK Ministry of Knowledge Economy.
Deputy Minister of Trade and Industry Bui Xuan Khu also spoke highly of the cooperation between the RFTI and the Vietnam Textile and Apparel Association (VITAS) and affirmed that his ministry is ready to support the cooperation.
He expressed his wish that RFTI and RoK businesses will continue investing in clothing production and fashion design in Vietnam as well as strengthening cooperation with the Southeast Asian country to export its products to other markets.
At the forum, VITAS and RFTI representatives signed a memorandum of understanding focusing on boosting trade and investment in the sector, removing trade barriers, strengthening cooperation in the framework of the World Trade Organisation and supporting RoK businesses to do business in Vietnam and vice versa./.
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